REGISTERED NUMBER: SC612333 (Scotland)

Financial Statements for the Year Ended 28 February 2025

for

The Grand Whisky Auction Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B J M Wallace

Miss J E Manson

REGISTERED OFFICE:

The Cellar

Old Edinburgh Road

Inverness

IV2 3HT

REGISTERED NUMBER:

SC612333 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Tangible assets

4

164,991

193,508

CURRENT ASSETS

Debtors

273,280

313,397

Cash at bank

312,677

444,304

585,957

757,701

CREDITORS

Amounts falling due within one year

178,937

278,673

NET CURRENT ASSETS

407,020

479,028

TOTAL ASSETS LESS CURRENT LIABILITIES

572,011

672,536

PROVISIONS FOR LIABILITIES

29,495

37,246

NET ASSETS

542,516

635,290

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

542,416

635,190

SHAREHOLDERS' FUNDS

542,516

635,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2025 and were signed on its behalf by:

B J M Wallace - Director

Miss J E Manson - Director

1.	STATUTORY INFORMATION

The Grand Whisky Auction Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to Property

-

10% on reducing balance

Plant and Machinery

-

25% on reducing balance

Motor Vehicles

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation, impairment losses, and reversals of impairment losses (where applicable).

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

291,690

Additions

20,987

Disposals

(9,568

)

At 28 February 2025

303,109

DEPRECIATION

At 1 March 2024

98,182

Charge for year

43,212

Eliminated on disposal

(3,276

)

At 28 February 2025

138,118

NET BOOK VALUE

At 28 February 2025

164,991

At 29 February 2024

193,508

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 March 2024

35,758

Transfer to ownership

(35,758

)

At 28 February 2025

-

DEPRECIATION

At 1 March 2024

20,987

Transfer to ownership

(20,987

)

At 28 February 2025

-

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

14,771

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

£

B J M Wallace and Miss J E Manson

Balance outstanding at start of year

(3,748

)

(11,134

)

Amounts advanced

18,369

23,960

Amounts repaid

(17,457

)

(16,574

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,836

)

(3,748

)

6.	RELATED PARTY DISCLOSURES